Data Control Technitic - "No Substance" In Rumors of Automaker Stake

Data Control Technitic is describing rumors that an automaker has bought a stake in its equity as “unsubstantiated”.

(1888PressRelease) August 10, 2018 - Senior figures at Hong Kong-based LiDAR pioneer, Data Control Technitic are vehemently denying suggestions that a large auto manufacturer has taken a significant stake in the company’s equity. The denials come amid considerable conjecture that a stake was sold to an automaker in return for substantial inward investment aimed at bolstering the company’s research and development operations ahead of the impending unveiling of its next generation LiDAR sensors.

The company’s Chief Technology Officer would neither confirm nor deny that Data Control Technitic had received interest from car makers keen to leverage its considerable expertise but he strenuously denied that any stake had been acquired and reiterated that the company’s equity continued to be held entirely by the company’s directors, senior personnel and original investors.

“While we are all too aware of the fact that companies like Data Control Technitic which operate at the cutting edge of technology will always be of interest to larger companies that may wish to buy their way into innovation, we are far too occupied with the development, testing and establishment of our suite of products to concern ourselves with the distraction that normally accompanies matters of this nature. Suffice it to say that these rumors are wholly unsubstantiated,” explained the CTO.

The company is reportedly set to unveil its latest hybrid LiDAR sensors at an upcoming technology event but it has yet to confirm a firm date for the debut. Unofficial sources at the company recently suggested that early stage talks with a regional motor manufacturer concerning the future availability of the new sensors were underway but the company has remained tight-lipped on whether or not those talks were taking place.